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Side-by-side financial comparison of BXP, Inc. (BXP) and ESAB Corp (ESAB). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($872.1M vs $727.8M, roughly 1.2× ESAB Corp). BXP, Inc. runs the higher net margin — 15.3% vs 7.5%, a 7.7% gap on every dollar of revenue. On growth, ESAB Corp posted the faster year-over-year revenue change (8.5% vs 0.8%). Over the past eight quarters, ESAB Corp's revenue compounded faster (2.8% CAGR vs 1.3%).
BXP Inc., operating as Boston Properties, is a leading U.S. real estate investment trust focused on owning, managing and developing high-quality Class A commercial office properties across major U.S. metro markets, serving diverse corporate, tech and professional service tenants.
ESAB, Elektriska Svetsnings-Aktiebolaget, is an American-Swedish industrial company.
BXP vs ESAB — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $727.8M |
| Net Profit | $133.0M | $54.8M |
| Gross Margin | — | 37.0% |
| Operating Margin | — | 14.6% |
| Net Margin | 15.3% | 7.5% |
| Revenue YoY | 0.8% | 8.5% |
| Net Profit YoY | 53.0% | 2.1% |
| EPS (diluted) | $1.69 | $0.90 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $727.8M | ||
| Q3 25 | $871.5M | $715.6M | ||
| Q2 25 | $868.5M | $678.1M | ||
| Q1 25 | $865.2M | — | ||
| Q4 24 | $858.6M | $670.8M | ||
| Q3 24 | $859.2M | $673.3M | ||
| Q2 24 | $850.5M | $707.1M |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $54.8M | ||
| Q3 25 | $-121.7M | $66.9M | ||
| Q2 25 | $89.0M | $67.4M | ||
| Q1 25 | $61.2M | — | ||
| Q4 24 | $-228.9M | $53.7M | ||
| Q3 24 | $83.6M | $68.2M | ||
| Q2 24 | $79.6M | $82.9M |
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 37.0% | ||
| Q3 25 | 59.3% | 37.2% | ||
| Q2 25 | 59.2% | 37.6% | ||
| Q1 25 | 59.2% | — | ||
| Q4 24 | 59.7% | 38.5% | ||
| Q3 24 | 59.5% | 37.7% | ||
| Q2 24 | 59.8% | 38.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 14.6% | ||
| Q3 25 | — | 15.2% | ||
| Q2 25 | — | 16.2% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | — | 15.7% | ||
| Q2 24 | — | 16.9% |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | 7.5% | ||
| Q3 25 | -14.0% | 9.3% | ||
| Q2 25 | 10.2% | 9.9% | ||
| Q1 25 | 7.1% | — | ||
| Q4 24 | -26.7% | 8.0% | ||
| Q3 24 | 9.7% | 10.1% | ||
| Q2 24 | 9.4% | 11.7% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $0.90 | ||
| Q3 25 | $-0.77 | $1.09 | ||
| Q2 25 | $0.56 | $1.10 | ||
| Q1 25 | $0.39 | — | ||
| Q4 24 | $-1.46 | $0.87 | ||
| Q3 24 | $0.53 | $1.11 | ||
| Q2 24 | $0.51 | $1.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $512.8M | $218.2M |
| Total DebtLower is stronger | — | $1.3B |
| Stockholders' EquityBook value | $7.7B | $2.1B |
| Total Assets | $25.1B | $4.9B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $218.2M | ||
| Q3 25 | $861.1M | $258.2M | ||
| Q2 25 | $447.0M | $291.3M | ||
| Q1 25 | $398.1M | — | ||
| Q4 24 | $1.3B | $249.4M | ||
| Q3 24 | $1.4B | $253.7M | ||
| Q2 24 | $685.4M | $228.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B |
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $2.1B | ||
| Q3 25 | $5.0B | $2.1B | ||
| Q2 25 | $5.3B | $1.9B | ||
| Q1 25 | $5.3B | — | ||
| Q4 24 | $5.4B | $1.8B | ||
| Q3 24 | $5.8B | $1.8B | ||
| Q2 24 | $5.8B | $1.7B |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $4.9B | ||
| Q3 25 | $26.0B | $4.4B | ||
| Q2 25 | $25.6B | $4.2B | ||
| Q1 25 | $25.4B | — | ||
| Q4 24 | $26.1B | $4.0B | ||
| Q3 24 | $26.4B | $4.1B | ||
| Q2 24 | $25.5B | $4.0B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.63× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.55× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.59× | ||
| Q2 24 | — | 0.63× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $81.5M |
| Free Cash FlowOCF − Capex | — | $70.3M |
| FCF MarginFCF / Revenue | — | 9.7% |
| Capex IntensityCapex / Revenue | 1.5% | 1.5% |
| Cash ConversionOCF / Net Profit | — | 1.49× |
| TTM Free Cash FlowTrailing 4 quarters | — | $238.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $81.5M | ||
| Q3 25 | $274.2M | $46.6M | ||
| Q2 25 | $353.1M | $35.4M | ||
| Q1 25 | $210.0M | — | ||
| Q4 24 | $383.7M | $126.9M | ||
| Q3 24 | $286.1M | $101.0M | ||
| Q2 24 | $367.1M | $83.0M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $70.3M | ||
| Q3 25 | $231.6M | $37.4M | ||
| Q2 25 | $281.5M | $28.1M | ||
| Q1 25 | $152.6M | — | ||
| Q4 24 | $312.5M | $102.2M | ||
| Q3 24 | $234.5M | $90.4M | ||
| Q2 24 | $332.4M | $74.0M |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | 9.7% | ||
| Q3 25 | 26.6% | 5.2% | ||
| Q2 25 | 32.4% | 4.1% | ||
| Q1 25 | 17.6% | — | ||
| Q4 24 | 36.4% | 15.2% | ||
| Q3 24 | 27.3% | 13.4% | ||
| Q2 24 | 39.1% | 10.5% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 1.5% | ||
| Q3 25 | 4.9% | 1.3% | ||
| Q2 25 | 8.2% | 1.1% | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 8.3% | 3.7% | ||
| Q3 24 | 6.0% | 1.6% | ||
| Q2 24 | 4.1% | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | 1.49× | ||
| Q3 25 | — | 0.70× | ||
| Q2 25 | 3.97× | 0.53× | ||
| Q1 25 | 3.43× | — | ||
| Q4 24 | — | 2.36× | ||
| Q3 24 | 3.42× | 1.48× | ||
| Q2 24 | 4.61× | 1.00× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BXP
| Lease | $818.2M | 94% |
| Parking and other | $30.8M | 4% |
| Development and management services | $9.2M | 1% |
ESAB
| Consumable Products | $477.9M | 66% |
| Equipment Products | $249.9M | 34% |
